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Aker Energy Delays Ghana Offshore Project 'Indefinitely'

Apr 01, 2020

Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development 'within a month or two.' The wait is now set to be prolonged 'indefinitely.'Namely, in the space of one month or so, the world has turned on its head with the global coronavirus outbreak, and the overflow of cheap oil from Saudi Arabia, leading to a historic crash in oil prices…

OPEC+ Debates Biggest Ever Oil Output Cut as Virus Destroys Demand

few minutes ago

OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the coronavirus pandemic…

Update: Brent Oil Rises above $32 on Hopes of Output Deal

4 hours ago

Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47%…

Energean Power FPSO Hull Leaves China

5 hours ago

Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020.The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…

Woodside Gets OK for Scarborough Proposal

Apr 02, 2020

Australian offshore oil and gas safety regulator NOPSEMA has approved Woodside's offshore project proposal (OPP) from for the development of the Scarborough gas fields off northern Western Australia.The OPP is the primary Commonwealth environmental…

CNOOC Transfers Pipeline Infrastructure to PipeChina

Apr 02, 2020

China National Offshore Oil Corp (CNOOC) has signed an agreement with newly launched PipeChina on transferring management rights for oil and gas infrastructure projects, the company said in a statement on Wednesday.The statement did not give details on what projects have been handed over…

Oilfield Equipment and Services Spending to Fall to 2005-Low

Apr 01, 2020

Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending…

Abu Dhabi's Gulf Marine Services Reaches Debt Restructuring Deal

Mar 31, 2020

Abu Dhabi-based Gulf Marine Services (GMS) said on Tuesday it had reached an agreement with its syndicate of banks to restructure its debt that will help it weather the coronavirus crisis.London-listed GMS provides support vessels for offshore oil and gas and other energy installations…

ABS to Class Silver Eagle's New Jack-Ups

Mar 31, 2020

ABS, a classification services provider to the marine and offshore industries, will provide classification for a series of 'highly innovative Self-Elevating Drilling Units (SEDU)' for Silver Eagle Global.Silver Eagle, of Manama, Bahrain, says…

COVID-19 Oil Demand Hit Renders OPEC+, Trump Actions Irrelevant

Mar 31, 2020

Imagine for a moment that the Organization of the Petroleum Exporting Countries (OPEC) and Russia had agreed at the start of this month to extend and deepen their crude oil output cuts. It wouldn't have made the blindest bit of difference.While it was only three and half weeks ago…

SE Asia Rig Market Set for Decline. Deepwater Projects at Risk

Mar 31, 2020

Norwegian energy intelligence company Rystad Energy has painted a bleak picture for the drilling rig market outlook in South East Asia but has also said that Malaysia's Petronas will have a large role in where the market goes. Further, the intelligence…

Worley, Chevron Extend Service Contract in Australia

Mar 31, 2020

Australian energy services company Worley has secured an extension to an existing services contract with Chevron Australia.Under the contract, engineering and procurement services will be provided to support Chevron's Australian assets, including the Gorgon project…

Oil Price: WTI Dips Below $20, Brent Touches 2002-Low

Mar 30, 2020

Oil prices fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent hitting its lowest in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further.Brent crude…

Australia May Need LNG Imports from 2024

Mar 27, 2020

Australia will need to import liquefied natural gas (LNG) by 2024 for its southern states to avoid shortfalls unless more gas fields are developed locally and pipelines are expanded, the country's energy market operator said on Friday.Despite…

Kim Heng in Taiwan Offshore Wind JV

Mar 27, 2020

Singaporean offshore services provider Kim Heng Marine & Oilfield Pte has entered into a joint venture with a Taiwanese company to create Bridgewater Marine (Taiwan) Limited.Kim Heng Offshore & Marine, a parent company of Kim Heng Marine & Oilfield…

Current News

OPEC+ Debates Biggest Ever Oil Output Cut as Virus Destroys Demand

OPEC+ Debates Biggest Ever Oil Output Cut as Virus Destroys Demand

Update: Brent Oil Rises above $32 on Hopes of Output Deal

Update: Brent Oil Rises above $32 on Hopes of Output Deal

Energean Power FPSO Hull Leaves China

Energean Power FPSO Hull Leaves China

Woodside Gets OK for Scarborough Proposal

Woodside Gets OK for Scarborough Proposal

CNOOC Transfers Pipeline Infrastructure to PipeChina

CNOOC Transfers Pipeline Infrastructure to PipeChina

Petronas Charters Alam Maritim AHTS

Petronas Charters Alam Maritim AHTS

Aker Energy Delays Ghana Offshore Project 'Indefinitely'

Aker Energy Delays Ghana Offshore Project 'Indefinitely'

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